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Information – The Key to the Real Estate Development Process

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dc.contributor.authorBulloch, Ben
dc.contributor.authorSullivan, John
dc.date.accessioned2020-09-04T17:23:11Z
dc.date.available2020-09-04T17:23:11Z
dc.date.issued2010-07-01
dc.description.abstractInformation generation and sharing is an integral part of the real estate development process, but can this information flow be effectively modeled? Is there a simple yet informationally-rich methodology to detail and understand how it is shared between parties in a complex development process? Because the process is unpredictable, many developers fail to plan accordingly, relying on their past experiences or ability to solve problems as they arise. Practitioners who do attempt to model the development process typically use scheduling and project management software to list out the necessary tasks that occur. While these tools work well when tasks are done in sequence, they are incapable of showing the rework and iteration that occurs as ideas are refined in response to new and unpredictable information. As activities in the development process are completed, other tasks need to be revised and updated. It’s a process that is constantly evolving. The Design Structure Matrix (DSM) is a tool that can help us understand and model this iterative process. The DSM has been used successfully in numerous other product development industries (i.e. aerospace, microchips, etc.) to enhance the understanding of information generation and flows. This paper demonstrates the applicability of DSM methodology to the real estate development process and the insights that can be gained from explicating information flows in complex, information-dense processes. Improved understanding of the process can reduce risk and improve project development efficiency.
dc.description.legacydownloads2010_78_87_Bulloch___Sullivan.pdf: 31492 downloads, before Aug. 1, 2020.
dc.identifier.other5417202
dc.identifier.urihttps://hdl.handle.net/1813/70677
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectCornell
dc.subjectreal estate
dc.subjectinformation generation
dc.subjectinformation sharing
dc.subjectdesign structure matrix (DSM)
dc.subjectinformation flows
dc.subjectdevelopment process
dc.subjectcost-benefit analysis
dc.subjectfeasibility
dc.subjectasset management
dc.subjectestimate costs
dc.subjectidentify land opportunities
dc.subjectback-of- the-envelope proforma
dc.subjectpreconstruction
dc.subjectconstruction
dc.subjectstabilization
dc.subjectsale
dc.titleInformation – The Key to the Real Estate Development Process
dc.typearticle
local.authorAffiliationBulloch, Ben: Credit Tenant Capital
local.authorAffiliationSullivan, John: Aspinwall Partners, Inc.
schema.issueNumberVol. 8

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CRER Vol. 08 (2010)